CONN Conn’s Inc. is being investigated by Glancy Prongay and Murray
LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Conn’s Inc (“Conn’s” or the Company”) (NASDAQ: CONN) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your Conn’s investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-801-2829, via email firstname.lastname@example.org or visit our website at www.glancylaw.com to learn more about your rights.
On December 10, 2019, before the market opened, Conn’s reported its third quarter 2020 financial results in a press release. Therein, the Company reported retail revenues of $280.3 million, compared to $284.1 million in the prior year period. Conn’s attributed the revenue decline to a decrease in same store sales, which “reflects underwriting adjustments made during the three months ended October 31, 2019.”
On this news, the Company’s share price fell $6.85, or over 33%, to close at $13.65 per share on December 10, 2019, thereby injuring investors.
Whistleblower Notice: Persons with non-public information regarding Conn’s should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-801-2829 or email email@example.com.
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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|Case Data Byte|
|Law Firm||Glancy Prongay & Murray LLP|
|Company Name||Conn’s Inc.|
|Lead Plaintiff Motion Deadline||asap|
|Contact Attorney||Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067|
|Case Summary||On December 10, 2019, before the market opened, Conn’s reported its third quarter 2020 financial results in a press release. Therein, the Company reported retail revenues of $280.3 million, compared to $284.1 million in the prior year period. Conn’s attributed the revenue decline to a decrease in same store sales, which “reflects underwriting adjustments made during the three months ended October 31, 2019.”|
|About the Company||Conn’s Inc. is an American furniture, mattress, electronics and appliance store chain headquartered in The Woodlands, Texas, United States. The chain has stores in Alabama, Arizona, Colorado, Georgia, Kansas, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Within Texas Conn’s has stores in Greater Houston, the Dallas/Fort Worth Metroplex, Greater San Antonio, Greater El Paso, Greater Corpus Christi, Southeast Texas, and South Texas.|
|Join Action Link||https://www.glancylaw.com/cases/conns-inc/|